Suppliers would be the most eager to organize to restrict output if they faced:
A. a unit-elastic demand.
B. a perfectly elastic demand.
C. an inelastic demand.
D. an elastic demand.
Answer: C
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Equity instruments are traded in the ________ market
A) money B) bond C) capital D) commodities
In the long run, the inflation rate depends primarily on the growth rate of the money supply
a. True b. False Indicate whether the statement is true or false
When an industry is a natural monopoly,
a. it is characterized by constant returns to scale. b. it is characterized by diseconomies of scale. c. a larger number of firms may lead to a lower average cost. d. a larger number of firms will lead to a higher average cost.
Judging from the production possibilities curve, how many units of housing can be gained by dropping production of food from 80 to 60 units?
A. 0
b. 4
c. 7
d. 9